EMMITSBURG, Md. (AP) — Mount St. Mary’s University says it has chosen the head of a California investment firm as its new president.

The Catholic school in Emmitsburg announced the appointment Monday of Simon Newman, president and chief executive officer of Los Angeles-based Cornerstone Management Group.

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The 51-year-old Newman succeeds Thomas Powell, who is stepping down voluntarily after 11 years in office.

Board of Trustees member Francis Daily says the board looked for a candidate with expertise in fundraising, strategic planning and fiscal leadership, with strong communication skills and a deep Catholic faith.

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Newman was born in the United Kingdom. He holds a master’s in natural sciences from Cambridge and a master’s in business administration from Stanford.

Newman says he looks forward to leading the university and its approximately 2,200 students.

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